Chapter 856: Depressed John Gufran
"Someone is buying copper metal?'
George Berkeley, who was dealing with official business in his office at the Bright Fund headquarters in the City of London, frowned slightly.
The subordinate in front of him nodded and said, 'Yes, I have communicated with the Locke Fund. It's not one of their people. At first, I just thought it was a normal purchase of raw materials, but it's definitely not a coincidence to encounter such competitors one after another. I have already ordered someone to investigate where they are from.'
George Berkeley's brows relaxed, and after thinking about it, he ordered, 'Increase the acquisition efforts. The acquisition price can be adjusted according to the futures price. The speed and quantity must not be compromised!'
The market changes all the time.
After Sumitomo Corporation suddenly made a move, the situation took a turn for the better for Guangming Fund, exceeding George Berkeley's expectations. The rise in LME copper futures and LME aluminium futures was quite gratifying.
Under these circumstances, if the speed of acquiring spot goods cannot be increased, the price of spot goods will also rise. If you don't want to raise the price to buy in the early stages, you will have to pay a high price to buy later.
It is better to raise the premium earlier and buy more spot contracts.
After all, George Berkeley was confident that his side's capital was strong enough, and that in the event of hoarding and selling sparingly, he would always be able to earn back his money.
'Understood!' his subordinate replied loudly.
'Go, hurry!'
George Berkeley waved his hand to dismiss his subordinate.
...
At the headquarters of the Bahrain Bank, which was only a few hundred metres from the Bright Fund, Peter Nils was in a very bad mood.
The news reported by his subordinate, who was responsible for acquiring spot contracts for copper and aluminium, gave him a bad feeling.
Of course, in addition to being depressed, he also felt a little relieved.
Fortunately, the decision to acquire spot contracts had enabled him to discover that the enemy had been secretly stockpiling.
If he had not discovered this in advance, the losses of the Bahrain Bank would have been even greater when the outbreak occurred.
So, who was actually acquiring spot contracts for copper and aluminium?
Bright Fund?
Sumitomo Corporation?
Or the Rockefeller Foundation of the Howard family?
Shaking his head slightly, he gathered his thoughts and, with a glimmer of hope, Peter Nils looked intently at Jack Corlacy, the executive in charge of spot purchases sitting opposite him, and asked, 'Jack, do you know who is buying the spot contracts? How much have they bought?'
Jack Corlacy shook his head in Peter Niles' disappointed gaze and said, 'President, I've used my connections to find out about two of the companies: one is Rossi Trading Company and the other is Kosti Company. But unfortunately, I've never heard of these two companies before. I've asked a lot of people and they also said they don't know. They were unknown before. I guess they are shell companies. And from the information I found in the business sector, the equity has been dealt with, so it's impossible to find out who's behind it in a short period of time.'
Peter Nils nodded with understanding, although he regretted it, and did not blame him.
The enemy is so cautious, which shows that they definitely have been planning this for a long time.
It was undoubtedly quite foolish for Bahrain Bank to jump into the futures market so recklessly.
Unfortunately, it is too late to regret it now.
Upon further thought, these two known companies are definitely not all of them. There must be other shell companies also buying spot contracts. Although the people behind them cannot be found, they should be one or more of the Bright Fund, Locke Fund and Sumitomo Corporation.
Suddenly, a sense of anxiety rose in Peter Nils' heart.
He thought for a moment, picked up the phone, and dialed the number of the home of the chairman of the board, Barrett Ballin. A servant answered the phone, and Peter Nils immediately identified himself and asked the servant to go and get Barrett Ballin.
Soon, Barrett Ballin, who was watering the flowers, dropped the watering can and returned to the living room to answer the phone.
Peter Nils immediately repeated what Jack Corliss had reported, and then expressed his own opinion.
'...President, this is the situation. I suggest that we increase spot purchases as soon as possible, and purchase as many spot contracts as possible. This will reduce our losses, and if we purchase from multiple places, we may even be able to turn a profit.'
'...
'Okay, I understand, I'll do it immediately!'
'Click!'
After hanging up the phone, Peter Nils's face became serious, and he instructed Jack Corlacy, 'Jack, the chairman has approved it. I will mobilise 300 million US dollars for you today and do my best to acquire spot contracts. Understand?'
Jack Corlacy nodded vigorously and solemnly replied, 'Understood, I will do my best!'
'Wait, be careful not to let Phillip Brothers know that we are acquiring spot contracts.'
Just as Jack Colacisi was about to turn and leave, Peter Nils suddenly stopped him and gave him a special piece of advice:
'We at Bahrain Bank are about to turn against each other, so we must not let the London branch of Philipp Brothers know.
Although Bahrain Bank and Philipp Brothers were allies just a few days ago, things change quickly, and now they are no longer allies!
'I'll remember!' Peter Nils nodded emphatically.
'Well, go on, do your best!'
After seeing Jack Colasai disappear through the door, Peter Nils frowned and pondered for a long time. He let out a long sigh, but the worry in his brow did not disappear.
With everyone working at full capacity, not only were the waves surging within the exchange, but outside the exchange, public opinion was also in uproar.
As for the undercurrents, needless to say, many people sensed the even more turbulent and dangerous undercurrents hidden beneath the waves.
It's Monday again.
Even before the market opens, the London Metal Exchange is already full of people, all of them looking at the huge electronic trading board, occasionally whispering to each other about the trend of a certain company or futures.
Many of them are talking about LME copper futures and LME aluminium futures.
There's no other way around it, these are the two futures that have seen the biggest fluctuations and are the most talked about at the moment.
Although they are just spectators, they want to be discerning spectators who only eat the best fruit.
Just then, someone shouted, 'It's opening!
' Everyone immediately fell silent and looked at the trading board.
The silence lasted only two seconds.
When they saw the real-time quotes on the trading board, there was an uproar of exclamations and noise in the exchange.
LME copper futures jumped at the opening, with an opening price of 1,462 US dollars per tonne, 12 US dollars per tonne higher than the closing price on Friday.
LME aluminium futures also jumped at the opening, with an opening price of 2,964 US dollars per tonne, 21 US dollars per tonne higher than the closing price on Friday.
The bulls are still the best!
Immediately afterwards, the prices of these two futures began to fluctuate violently, as the bears were making their move.
However, the bears were no match for the bulls.
After a five-to-six-minute struggle, the bears showed signs of weakness, and the prices of LME copper futures and LME aluminium futures began to steadily climb.
Time and space shifted, and the view moved to New York across the Atlantic.
When it was time to go to work, John Gufran arrived at Salomon Brothers.
'Good morning, Chairman!'
'Anna, you look even more beautiful!'
'Chairman...'
John Gufran smiled as he greeted his staff and, on the way to the elevator, took a copy of the newspaper lying on the rack.
But just as he had sat down in his office, a subordinate knocked on the door and came in to report some news that made his smile freeze.
'Chairman, according to news from the UK, the LME copper futures price has risen to 1,486 US dollars per tonne, and the LME aluminium futures price has risen to 3,001 US dollars per tonne.'
Upon hearing these two figures, John Gufran quickly did some calculations in his head, and after comparing the closing prices of copper and aluminium futures on the New York Mercantile Exchange on Friday, he couldn't help but close his eyes, his face full of confusion and depression.